Intech Investment Management LLC Has $346,000 Position in Nabors Industries Ltd. (NYSE:NBR)

Intech Investment Management LLC increased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,372 shares of the oil and gas company’s stock after purchasing an additional 322 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Nabors Industries worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NBR. nVerses Capital LLC bought a new position in Nabors Industries during the 3rd quarter worth $45,000. Signaturefd LLC increased its stake in Nabors Industries by 52.9% during the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 472 shares during the period. SG Americas Securities LLC bought a new position in shares of Nabors Industries in the 2nd quarter valued at $159,000. The Manufacturers Life Insurance Company increased its stake in shares of Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after purchasing an additional 181 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Nabors Industries by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after purchasing an additional 601 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $71.90 on Wednesday. The stock’s 50-day moving average price is $74.41 and its 200-day moving average price is $74.94. Nabors Industries Ltd. has a 12-month low of $59.67 and a 12-month high of $105.96. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBR. Evercore ISI reduced their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a research note on Wednesday, October 16th. Susquehanna dropped their price objective on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their price target on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Finally, Citigroup upped their price target on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.00.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.